The main reason behind this progress is the enhanced business regulation environment, reflected in various reforms.

On the distance to frontier metric which assesses a country’s absolute level of regulatory performance on a scale from 0 to 100, where 0 represents the lowest performance and 100 represents the frontier, Armenia’s score rose from 73.31in Doing Business 2018 to 75.37in Doing Business 2019.

In 2017-2018, Armenia implemented 5 reforms in business regulations, which corresponds with the ranking given to Armenia by Doing Business since the launch of the project.

In particular, the report highlights the significant improvements Armenia has achieved in the following areas:

- Armenia made starting a business easier by allowing voluntary value added tax registration at the time of business incorporation.

- Armenia made getting electricity faster by imposing new deadlines for procedures to obtain a new electrical connection.